looks like there are plenty of potential deposits in the area (pg 42), just need a power station of some description.
"Mt Mulligan - Mantle Mining are seeking to develop a coal bed methane gas operation from the coal seams at Mt Mulligan either to power local electricity generation or to pipeline gas to a local market. Their plans are to finalise some legal issues & an indigenous land use agreement in 2010, carry out drilling/exploration in first half 2011 and complete the evaluation and financing of the project by the second half of 2011. This would allow construction and generation in 2012 of 1MW building up to 5MW utilising 1MW bolt on gen sets. A 40km transmission line would need to be constructed to the grid at Dimbulah." (pg 50)
MNM Price at posting:
17.8¢ Sentiment: Buy Disclosure: Held